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20121027
20121104
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CNBC
Nov 1, 2012 3:00pm EDT
defensive. i don't see anybody taking a highly leveraged position in stocks quite yet. >> and in terms of your base at wealth management at mohr dan stanley, are you seeing risk adversity or wanting them to get risk on trading? >> much more of the former. risk adversity. people wanting to stay defensive. they don't feel we have come out of the woods yet. the corporate confidence is low. consumer confidence has been building. auto sales -- our next number expecting 15 million annualized. people are buying things, but it's expected to be a much lighter retail sales number for the end of the year through the holidays. so you want to stay -- i agree with art. you want to stay with your dividend payers, your drug stocks. you want your johnson & johnson. you want your pfizer. you want your cokes, pepsis, colgates and these great technology companies. >> steve, do you think there's a sandy play to be had here at all in stocks whether it's energy, materials, retailers? i mean, pick your sector, if you think it's going to be affected. >> well, i think there probably is from a sector perspective
CNBC
Nov 1, 2012 4:00pm EDT
it really makes sense to play it a little more defensively, like jeff said. also, something that's reminding me of 2007, the third and fourth quarter of 2007, we're starting to see weakness in consumer discretionary, small cap, and mid-cap. when you start to see those bull market sectors, not to mention technology sell off, i think you just want to become a little bit more cautious. not bearish. defensive, cautious. >> yeah, you say portfolio managers are doing window dressing right now, jeff. >> they are. you can see some of it. i think it's absolutely refle reflective of what abigail just said. there's a tendency to get away from the cyclical stuff, to go towards the defensive stocks. i'm watching the vix levels here. i think there's a lot of complacency in the market, which is very dangerous. we've seen the market get to this low end. it's almost always been resulted in bad things, sell off time. again, we have all these risks coming up that i think are going to make investing a very difficult road. i would watch the volume levels. i think you're going to see people heading for
Search Results 0 to 1 of about 2